Cirmaker Technology (CE) (USOTC:CRKT)
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Cirmaker Completes Initial Shipment of 146,000 Digital Set Top
Boxes to Mainland China and Taiwan Marketplace Worth Approximately $4.0 Million
(USD)
Company Announces Marketing Initiative to Introduce and Expand Product
Offerings in North America
NEW YORK, Jan. 18 /PRNewswire-FirstCall/ -- Cirmaker Technology Corp.
(OTC:CRKT.OB) (BULLETIN BOARD: CRKT.OB) , http://www.cirmaker.com.tw/, which
manufactures set top boxes (STB's) for digital TV signal reception, LCD flat
screens for televisions and PC's, CPU coolers for computers and electronic
components, today announced that it has shipped 146,000 set top boxes, worth
approximately $4.0 million (USD) to Mainland China and Taiwan. This delivery
of product is in conjunction with the initial order announced on September 22,
2004, for two hundred and forty thousand digital set top boxes worth $6,669,600
million (USD) and the subsequent announcement of its digital set top box entry
into the Taiwan market.
These set top boxes, also known as digital receivers, receive TV signals
directly from satellites and do not require a cable connection. The units have
been produced by the Company's (66%) owned subsidiary, Shaanxi New Century
Electronic Co., Ltd, in the Company's mainland facility.
Bill Liao, Chief Executive Officer and President of Cirmaker Technology
commented, "We are pleased to announce that we have completed a shipment of
146,000 set top boxes. This is a significant step forward for the company. We
experienced a great demand for our set top boxes from the Mainland China and
Taiwan marketplace and have begun to successfully ship the product."
He continued, "The digital set top box market is expected to grow rapidly over
the next few years and we foresee our role in the industry to be an important
one. We are producing a highly reliable and technologically advanced satellite
set top boxes. We have the facilities to increase production, based on future
anticipated orders. We are aggressively pursing new orders through our
exposure at trade shows and our dedicated sales force."
Cirmaker also announced today that it has retained Ross Huguet, Inc. to
introduce and expand its product offerings through marketing efforts in North
America. Initially, Ross Huguet's focus will be to build Cirmaker's brand
awareness in North America. Secondly, the Company will introduce and market
Cirmaker's LCD Televisions to major retailers, both the traditional retail
stores and through direct-to-consumer marketing campaigns. Ross Huguet's
experience ranges from consumer fast food chain marketing (McDonald's) to
electronic retail chain / catalogues (Crutchfield).
Commenting on this, Bill Liao said, "We are pleased to be working with Ross
Huguet, Inc. to increase Cirmaker's presence and consumer awareness, eventually
leading to sales in North America. They have a great deal of expertise in
marketing products to consumers, and building brand awareness. We will
initially work with them on creating the demand for Cirmaker's LCD Televisions,
while developing additional consumer product offerings."
About Cirmaker Technology Corp.
Headquartered in Taiwan with offices in New York City, London, Beijing, and
Guangdong province, Cirmaker Technology Corp. manufactures cooling systems for
laptop and personal computers, LCD flat screen for PC's and TV's, electrical
and electronic components and 3G MHP (3rd generation multimedia home platform)
digital set top boxes for television sets. Cirmaker has developed set top boxes
that convert digital television broadcast signals into analog formats so that
analog TV sets can receive digital programming. The system also receives,
processes, stores and broadcasts analog, digital and streaming media signals,
and supports pay-per-view and video-on-demand functions. Cirmaker believes it
is the only 3G MHP STB manufacturer operating in China able to produce in
volume a device that meets all the required standards of Chinese broadcasting
authorities. It also complies with all international HDTV standards for high
definition television.
The Company's subsidiary, Shaanxi New Century Electronic Co., produces a new
generation satellite set top box that converts digital television broadcast
signals into analog formats so that analog TV sets can receive digital
programming. This device meets all the required standards of Chinese
broadcasting authorities. Because the Chinese government plans to change all TV
broadcast signals from analog to digital, there is a significant demand in
Mainland China for this product.
For further information on Cirmaker Technology Corp., please visit
http://www.cirmaker.com.tw/
Forward-Looking Statements
The matters discussed in this news release contain forward-looking statements,
including statements regarding the demand for set top box satellite receivers
in China, future sales made by Cirmaker in China, and the potential success of
the strategic alliance between Shaanxi Ruyi Electric Co. and Cirmaker. These
statements are subject to various risks, uncertainties and other factors that
could cause actual results to vary materially from the results anticipated in
such forward-looking statements. Such risks, uncertainties and other factors
include Cirmaker's potential inability to raise additional capital, the
potential breach by the counterparty to the sales agreement of its obligations
to buy satellite receivers thereunder, Cirmaker's potential inability to
compete with other companies that may be more experienced and better
capitalized than Cirmaker, changes in domestic and foreign laws, regulations
and taxes, changes in economic conditions, uncertainties related to the legal
systems in Cirmaker's target markets, including, China's legal system and
economic, political and social events in China and other target markets,
foreign relations between Taiwan, China and Cirmaker's other potential target
markets, a general economic downturn, a downturn in the securities markets,
Securities and Exchange Commission regulations which affect trading in the
securities of "penny stocks," and other risks and uncertainties detailed from
time to time in Cirmaker's filings with the Securities and Exchange Commission.
These forward-looking statements represent management's judgment as of the date
of this release. Cirmaker disclaims any intent or obligation to update these
forward-looking statements.
You may register to receive Cirmaker's future press releases and to be added to
the Company's distribution list by visiting: http://www.roiny.com/form.php.
Company Contact: Investor Relations Contact:
Cirmaker Technology Corporation ROI Group Associates, Inc.
Charles R. Skeele Sarah Shepard / Vice President
General Manager Telephone: 212-495-0200, ext. 17
Telephone: 917-639-4098 Email:
Email: http://www.roiny.com/
DATASOURCE: Cirmaker Technology Corp.
CONTACT: Charles R. Skeele, General Manager of Cirmaker Technology
Corporation, +1-917-639-4098, ; or Investor Relations -
Sarah Shepard, Vice President of ROI Group Associates, Inc.,
+1-212-495-0200, ext. 17,
Web site: http://www.cirmaker.com.tw/